News
RSA expects 2010 profit to be at least £600m despite 2.4pt COR weather hit
RSA expects to show net written premium growth of 11% to £7.46bn, a COR of between 96.5% and 97.0% and an operating profit of between £600m and £630m in its 2010 full year results.
RSA expects 2010 profit to be at least £600m despite 2.4pt COR weather hit
RSA expects to show net written premium growth of 11% to £7.46bn, a COR of between 96.5% and 97.0% and an operating profit of between £600m and £630m in its 2010 full year results.
People moves - 20 January 2011
A round-up of people moves and new appointments in the industry, as featured in the January 20 2011 edition of Post.
Law report: Proposal to settle was time limited so could not be a Part 36 offer
This law report has been contributed by national law firm Berrymans Lace Mawer.
Crossrail signs nine-year no-break deal with Zurich, Ace and Swiss Re
The £15.9bn Crossrail construction project has become the first of its kind to negotiate a nine-year insurance policy to be placed in the global insurance market without a break clause.
Career development & CSR: Allianz gains CII chartered status accolade
Allianz Commercial has been granted chartered status for its commitment to ethical conduct and professionalism by the Chartered Insurance Institute.
Cost cutting could affect Jackson proposals
The government's drive to cut public spending could affect its decision to implement Lord Justice Jackson's civil litigation proposals, a pressure group has stated.
Law report: Catastrophic claim dismissed due to defendant driver care
This law report has been contributed by national law firm Berrymans Lace Mawer.
Editor's comment: A whimper not a bang
Given that last week saw the government's transport select committee reconvene to discuss the thorny issue of rising motor premiums, it was somewhat bad timing — as far as the industry is concerned — that the Office of Fair Trading also emerged with…
Suncorp claims hit 10 000
Suncorp expects to have eroded between A$220m (£137m) and A$240m of retained costs under its aggregate reinsurance programme as a result of the Australian floods, as well as other natural hazard events during 2010.
Biba progress
The British Insurers Brokers' Association has met with the cabinet office to discuss business resilience ahead of a formal consultation document to take place in March.
WNS eyes top three property repair place
WNS Assistance has pledged to land a place among the top-three property repair firms within the next 18 months, after confirming its plans to enter the sector.
Aspen seals second underwriting deal
Managing general agent Aspen Risk Management has unveiled plans to open new offices in the North of England and Scotland during 2011.
CHOs must co-operate more with insurers or risk collapse
Some credit hire organisations will have to become more co-operative with insurers if they are to avoid collapse, a legal expert has warned.
Groupama u-turn over Liverpool office closure
Groupama is set to transfer the Liverpool and Glasgow-based commercial motor accounts of broker Choice Quote to its sister business Bollington, as part of a restructure of its GUK Broking Services arm.
Career development & CSR - IRM: qualification will help avoid repeat of economic upheaval
The Institute of Risk Management has said its new practical international qualification will support the insurance and banking sectors in avoiding a repeat of the economic upheaval of the past three years.
RSA boasts of UK first with scoping innovation
RSA has agreed a deal with technology firm Innovation Group to become the first UK insurer to adopt its property claims scoping software.
Pru Health to overhaul product offering
Pru Health is set to overhaul its product offering following its purchase of rival firm Standard Life Healthcare UK.
North of the Border: Update on Pleural Plaques and Forum Shopping
The eagerly awaited decision of Scotland's Inner House of the Court of Session, in the judicial review of the Damages (Asbestos-Related Conditions) (Scotland) Act 2009 is anticipated later this month.
Staysure to double headcount in push
Over-50s insurance provider Staysure plans to more than quadruple the premium of its newly launched motor and home products to £5m and double its headcount to 90.
RSA joins forces with WWF to call for sustainable drainage
RSA has called for an increase in sustainable urban drainage systems to combat the growing effects of climate change.
Law report: Defendant medical evidence finds favour in whiplash case
This law report has been contributed by national law firm Berrymans Lace Mawer.
Ex-HBOS GI CEO Posner takes new chair role
Former Halifax Bank of Scotland General Insurance chief executive Howard Posner has taken up the newly-created position of chairman at claims management firm LAS.
Career development & CSR: Service providers raise £10k
Two legal services providers have raised £10 000 for the Brain and Spinal Injury Centre, which provides counselling, information and support services to patients and their families following catastrophic injuries of this type.